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TECHNICAL ANALYSIS MAY.17

Euro

The data from the 4-hour chart showed that the pair EUR/USD was traded in a range of the the previous sessions. The downwards movement was taken over by the growth towards the upper limit of the range at 1.1350.

The bulls will maintain the leadership if they break through the resistance at 1.1350. Their target will be 1.1450 and 1.1550.

The bears will regain the initiative if they break through the support at 1.1260. Their target will be 1.1150 and 1.1050.

technical_eurusd_17_05_2016_1

Pound

On the 4-hour time-frame, the pair GBP/USD was slightly corrected upwards. Intensive bulls’ movement raised the price up to 1.4400 and then tested it.

The bulls will maintain the leadership if they break through the resistance at 1.4400. Their target will be 1.4480 and 1.4560.

The bears will regain the initiative if they break through the support at 1.4320. Their target will be 1.4240 and 1.4160.

technical_gbpusd_17_05_2016_1

Yen

Price consolidation below 109.00 was formed on the 4-hour chart. The analysts from FortFS said that the pair showed growth tendencies during the trading session.

The bulls will maintain the leadership if they break through the resistance at 109.00. Their target will be 109.80 and 110.60.

The bears will regain the initiative if they break through the support at 108.20. Their target will be 107.40 and 106.60.

technical_usdjpy_17_05_2016_1

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